Harvard Endowment Hires Four Fund Managers in Equities Expansion (SFGate)
Harvard Management Co., which oversees the endowment of the world’s richest university with $30.7 billion, hired Sanjiv Bhatia and three other portfolio managers as it expands it stock markets team. Bhatia, who once headed the Asia office of Minnetonka, Minnesota-based hedge fund Deephaven Capital Management LLC, started this month as portfolio manager for emerging markets stocks, Harvard Management said today. The endowment also hired Al-Wadhah Al-Adawi, formerly at GLG Partners Inc., Amit Tiwari, who used to work at the Lakshmi Mittal family office, and Srdjan Tanjga, most recently at 40 North Industries LLC.
Regiment Capital hedge fund founder to step down in 2014 (PIOnline)
Tim Peterson, who founded the $7 billion Regiment Capital Advisors in 1999 after a decade at Harvard University’s endowment, plans to step down from day-to-day management of the hedge fund in mid-2014. Mr. Peterson will take on a mentoring role at the firm after he stops managing money, said Diana Pisciotta, a Regiment Capital spokeswoman. Regiment partners Mark Brostowski and Bill Heffron will continue to run the portfolios, while Thomas Sorbo, managing director, and Chris Kaster, CFO, will head the non-investment parts of the business.
Ex-Hedge Funder Sells $29.6 Million Co-Op In One Of NYC’s Most Famous Buildings (BusinessInsider)
Former hedge fund manager Bruce Barnes has sold his three-bedroom apartment at The Dakota, a storied apartment building on Manhattan’s Upper West Side where he is also the president of the co-op board, Curbed reports. The apartment was listed for $29.6 million in April, and had recently undergone a renovation to restore its 19th century details, according to the listing with Brown Harris Stevens.
Lloyds bet starts to pay off for hedge fund Lansdowne (III)
Lansdowne Partners, a European hedge fund which made millions betting against UK banks in the financial crisis, is starting to see the benefits of sticking with a big position in Lloyds Banking Group PLC (NYSE:LYG). Its flagship $7.5 billion (4.6 billion pounds) Developed Markets fund is up 14.21 percent this year, according to a letter sent to clients and obtained by Reuters, aided by a recovery in Lloyds shares. Last year Lansdowne’s holding in the lender cost it dearly, with the Developed Markets fund losing a fifth of its value, dragged down by a 60 percent slump in Lloyds’ share price.
Hedge Funds To Face “Industry Defining Issues” In 2013, According To Gravitas CEO Jayesh Punater (SacBee)
Rethinking the cloud, a heightened call for operational freedom and an arms race to scale will be industry-defining issues for the alternative asset management industry in 2013, according to Gravitas, a co-sourcing platform providing cloud technology, co-sourcing and risk support to the alternative investment industry. …”With the lessons learned from a string of major frauds, the ripple effects of an epic financial crisis and regulatory upheaval, the alternative investment industry finds itself on the threshold of a new era marked by the emergence of exciting new business models,” said Gravitas CEO Jayesh Punater. “More than ever, the hedge fund and private equity industries are embracing innovation across the value chain in order to build sustainable, increasingly global businesses.
